|
|
|
|
|
|
|
|
TAX-EXEMPT OBLIGATIONS — 127.0% of Net Assets
|
|
|
Alabama — 2.2%
|
|
|
2,500,000
|
|
B-/B2
|
|
Alabama Industrial Development Authority Solid Waste Disposal Revenue, 6.45%, 12/1/23
|
$
|
2,261,250
|
|
|
1,000,000
|
|
NR/NR
|
|
Huntsville-Redstone Village Special Care Facilities Financing Authority, 5.5%, 1/1/28
|
|
925,950
|
|
|
4,500,000
|
|
NR/NR
|
|
Huntsville-Redstone Village Special Care Facilities Financing Authority, 5.5%, 1/1/43
|
|
3,565,710
|
|
|
|
|
|
|
|
|
$
|
6,752,910
|
|
|
Arizona — 2.4%
|
|
|
5,000,000
|
|
BBB-/Baa3
|
|
Apache County Industrial Development Authority, 5.85%, 3/1/28
|
$
|
5,001,800
|
|
|
994,000
|
|
NR/Baa3
|
|
Pima County Industrial Development Authority, 6.75%, 7/1/31
|
|
994,398
|
|
|
950,000
|
|
NR/Baa3
|
|
Pima County Industrial Development Authority, 7.25%, 7/1/31
|
|
952,175
|
|
|
500,000
|
|
NR/Baa2
|
|
Yavapai County Industrial Development Authority, 6.0%, 8/1/33
|
|
508,005
|
|
|
|
|
|
|
|
|
$
|
7,456,378
|
|
|
California — 9.7%
|
|
|
3,000,000
|
|
NR/A1
|
|
ABAG Finance Authority for Nonprofit Corp. Revenue Bonds, 5.75%, 7/1/37
|
$
|
3,155,250
|
|
|
1,000,000
|
|
NR/NR
|
|
California Enterprise Development Authority Recovery Zone Facility Revenue, 8.5%, 4/1/31
|
|
1,064,650
|
|
|
7,885,000
|
(a)
|
AA-/NR
|
|
California State University Revenue, RIB, 11.126%, 9/20/28 (144A)
|
|
9,595,178
|
|
|
3,000,000
|
|
BB+/NR
|
|
California Statewide Communities Development Authority, 7.25%, 10/1/38 (144A)
|
|
3,112,410
|
|
|
568,006
|
(b)
|
NR/NR
|
|
California Statewide Communities Development Authority Environmental Facilities Revenue, 9.0%, 12/1/38
|
|
5,504
|
|
|
5,150,000
|
†
|
AA+/Aaa
|
|
Golden State Tobacco Securitization Corp., 7.8%, 6/1/42
|
|
5,651,713
|
|
|
7,000,000
|
†
|
AA+/Aaa
|
|
Golden State Tobacco Securitization Corp., 7.875%, 6/1/42
|
|
7,688,590
|
|
|
|
|
|
|
|
|
$
|
30,273,295
|
|
|
Colorado — 1.0%
|
|
|
2,000,000
|
|
BBB+/NR
|
|
Colorado Health Facilities Authority Revenue, 5.25%, 5/15/42
|
$
|
1,993,820
|
|
|
1,000,000
|
|
NR/NR
|
|
Kremmling Memorial Hospital District, 7.125%, 12/1/45
|
|
1,055,510
|
|
|
|
|
|
|
|
|
$
|
3,049,330
|
|
|
Connecticut — 6.0%
|
|
|
10,335,000
|
(a)
|
NR/Aaa
|
|
Connecticut Health & Educational Facilities Authority Revenue, RIB, 11.885%, 8/21/35 (144A)
|
$
|
13,715,475
|
|
|
1,000,000
|
|
NR/NR
|
|
Hamden Facility Revenue Bonds, Series 2009A, 7.75%, 1/1/43
|
|
1,043,060
|
|
|
5,000,000
|
|
CCC+/NR
|
|
Mohegan Tribe Indians Gaming Authority, 6.25%, 1/1/31
|
|
4,133,650
|
|
|
|
|
|
|
|
|
$
|
18,892,185
|
|
|
District Of Columbia — 3.7%
|
|
|
5,000,000
|
|
BBB/Baa1
|
|
District of Columbia Tobacco Settlement Financing Corp., 6.5%, 5/15/33
|
$
|
5,417,800
|
|
|
6,000,000
|
|
BBB/Baa1
|
|
District of Columbia Tobacco Settlement Financing Corp., 6.75%, 5/15/40
|
|
6,070,320
|
|
|
|
|
|
|
|
|
$
|
11,488,120
|
|
|
Florida — 7.6%
|
|
|
1,500,000
|
|
NR/NR
|
|
Alachua County Health Facilities Authority Revenue, 8.125%, 11/15/41
|
$
|
1,520,685
|
|
|
1,500,000
|
|
NR/NR
|
|
Alachua County Health Facilities Authority Revenue, 8.125%, 11/15/46
|
|
1,520,685
|
|
|
1,600,000
|
|
NR/NR
|
|
Beacon Lakes Community Development, 6.9%, 5/1/35
|
|
1,626,656
|
|
|
1,000,000
|
|
NR/Ba3
|
|
Capital Trust Agency Revenue Bonds, 7.75%, 1/1/41
|
|
1,049,710
|
|
|
1,000,000
|
|
NR/NR
|
|
Florida Development Finance Corp., Educational Facilities Revenue, 6.0%, 9/15/40
|
|
1,016,050
|
|
|
2,000,000
|
|
NR/NR
|
|
Florida Development Finance Corp., Educational Facilities Revenue, 7.625%, 6/15/41
|
|
2,095,400
|
|
|
1,000,000
|
|
NR/NR
|
|
Florida Development Finance Corp., Educational Facilities Revenue, 7.75%, 6/15/42
|
|
1,025,430
|
|
|
1,000,000
|
†
|
NR/WR
|
|
Hillsborough County Industrial Development Authority Revenue, 8.0%, 8/15/32
|
|
1,457,140
|
|
|
2,330,000
|
|
NR/NR
|
|
Liberty County Subordinate Revenue, 8.25%, 7/1/28
|
|
2,334,707
|
|
|
2,500,000
|
|
A-/A2
|
|
Miami-Dade County Florida Aviation Revenue, 5.5%, 10/1/41
|
|
2,769,725
|
|
|
1,000,000
|
|
NR/NR
|
|
St. Johns County Industrial Development Authority Revenue, 5.25%, 1/1/26
|
|
849,060
|
|
|
2,000,000
|
|
NR/NR
|
|
St. Johns County Industrial Development Authority Revenue, 5.375%, 1/1/40
|
|
1,526,840
|
|
|
5,000,000
|
|
NR/Baa1
|
|
Tallahassee Health Facilities Revenue, 6.375%, 12/1/30
|
|
5,006,600
|
|
|
|
|
|
|
|
|
$
|
23,798,688
|
|
|
Georgia — 2.6%
|
|
|
4,240,000
|
(a)
|
NR/Aa3
|
|
Atlanta Georgia Water and Wastewater Revenue, RIB, 11.126%, 1/30/13 (144A)
|
$
|
4,765,506
|
|
|
500,000
|
|
CCC+/NR
|
|
Clayton County Development Authority Revenue, 9.0%, 6/1/35
|
|
536,845
|
|
|
2,400,000
|
|
NR/NR
|
|
Fulton County Residential Care Facilities Revenue, 5.0%, 7/1/27
|
|
1,932,120
|
|
|
1,100,000
|
|
NR/NR
|
|
Fulton County Residential Care Facilities Revenue, 5.125%, 7/1/42
|
|
792,429
|
|
|
|
|
|
|
|
|
$
|
8,026,900
|
|
|
Idaho — 1.6%
|
|
|
5,000,000
|
|
BBB+/Baa1
|
|
Power County Industrial Development Corp., 6.45%, 8/1/32
|
$
|
5,005,800
|
|
|
Illinois — 14.4%
|
|
|
1,000,000
|
(b)
|
NR/NR
|
|
Illinois Finance Authority Revenue, 6.0%, 11/15/27
|
$
|
500,000
|
|
|
3,865,000
|
|
BBB+/NR
|
|
Illinois Finance Authority Revenue, 6.0%, 8/15/38
|
|
4,134,004
|
|
|
2,000,000
|
|
AA+/Aa2
|
|
Illinois Finance Authority Revenue, 6.0%, 8/15/39
|
|
2,300,180
|
|
|
4,000,000
|
(b)
|
NR/NR
|
|
Illinois Finance Authority Revenue, 6.0%, 11/15/39
|
|
2,000,000
|
|
|
2,450,000
|
|
NR/NR
|
|
Illinois Finance Authority Revenue, 6.375%, 5/15/17
|
|
2,451,739
|
|
|
2,500,000
|
|
NR/Baa2
|
|
Illinois Finance Authority Revenue, 6.5%, 4/1/39
|
|
2,724,225
|
|
|
500,000
|
|
NR/NR
|
|
Illinois Finance Authority Revenue, 7.0%, 5/15/18
|
|
500,305
|
|
|
1,700,000
|
|
NR/NR
|
|
Illinois Finance Authority Revenue, 7.625%, 5/15/25
|
|
1,717,340
|
|
|
600,000
|
|
NR/NR
|
|
Illinois Finance Authority Revenue, 7.75%, 5/15/30
|
|
604,986
|
|
|
2,000,000
|
|
NR/NR
|
|
Illinois Finance Authority Revenue, 8.0%, 5/15/40
|
|
2,018,860
|
|
|
3,200,000
|
|
NR/NR
|
|
Illinois Finance Authority Revenue, 8.0%, 5/15/46
|
|
3,230,176
|
|
|
4,000,000
|
|
NR/NR
|
|
Illinois Finance Authority Revenue, 8.25%, 5/15/45
|
|
4,032,520
|
|
|
2,500,000
|
|
NR/NR
|
|
Illinois Finance Authority Revenue, 8.25%, 2/15/46
|
|
2,498,425
|
|
|
16,880,000
|
(c)
|
AAA/A3
|
|
Metropolitan Pier & Exposition Authority Dedicated State Tax Revenue, 0.0%, 6/15/22
|
|
15,169,043
|
|
|
1,540,000
|
|
NR/NR
|
|
Southwestern Illinois Development Authority Revenue, 5.625%, 11/1/26
|
|
1,153,368
|
|
|
|
|
|
|
|
|
$
|
45,035,171
|
|
|
Indiana — 2.0%
|
|
|
3,000,000
|
|
A+/A1
|
|
Indiana Health & Educational Facility Financing Authority Hospital Revenue, 5.0%, 2/15/39
|
$
|
3,058,110
|
|
|
3,570,000
|
|
NR/NR
|
|
Vigo County Hospital Authority Revenue, 5.8%, 9/1/47 (144A)
|
|
3,216,641
|
|
|
|
|
|
|
|
|
$
|
6,274,751
|
|
|
Louisiana — 2.1%
|
|
|
1,500,000
|
|
BBB-/Baa3
|
|
Louisiana Local Government Environmental Facilities Revenue, 6.75%, 11/1/32
|
$
|
1,619,535
|
|
|
5,000,000
|
|
NR/Baa1
|
|
Louisiana Public Facilities Authority Revenue, 5.5%, 5/15/47
|
|
5,106,850
|
|
|
|
|
|
|
|
|
$
|
6,726,385
|
|
|
Maine — 0.5%
|
|
|
1,500,000
|
|
NR/Baa3
|
|
Maine Health & Higher Educational Facilities Authority Revenue, 7.5%, 7/1/32
|
$
|
1,718,115
|
|
|
Massachusetts — 7.6%
|
|
|
7,100,000
|
|
A/WR
|
|
Massachusetts Development Finance Agency, 5.75%, 1/1/42
|
$
|
8,712,907
|
|
|
2,305,000
|
|
NR/NR
|
|
Massachusetts Development Finance Agency, 7.1%, 7/1/32
|
|
2,063,851
|
|
|
860,000
|
|
AA/NR
|
|
Massachusetts Educational Financing Authority Revenue, 6.0%, 1/1/28
|
|
993,360
|
|
|
1,860,000
|
|
AAA/Aaa
|
|
Massachusetts Health & Educational Facilities Authority Revenue, 5.5%, 7/1/32
|
|
2,680,613
|
|
|
1,000,000
|
|
NR/Caa1
|
|
Massachusetts Health & Educational Facilities Authority Revenue, 6.0%, 10/1/23
|
|
776,810
|
|
|
3,500,000
|
†
|
NR/NR
|
|
Massachusetts Health & Educational Facilities Authority Revenue, 6.25%, 7/1/22
|
|
3,620,680
|
|
|
4,500,000
|
(b)
|
NR/NR
|
|
Massachusetts Health & Educational Facilities Authority Revenue, 6.5%, 1/15/38
|
|
44,955
|
|
|
5,000,000
|
|
BB-/NR
|
|
Massachusetts Health & Educational Facilities Authority Revenue, 6.75%, 10/1/33
|
|
5,050,600
|
|
|
|
|
|
|
|
|
$
|
23,943,776
|
|
|
Michigan — 3.1%
|
|
|
935,000
|
|
NR/NR
|
|
Doctor Charles Drew Academy, 5.7%, 11/1/36
|
$
|
632,855
|
|
|
1,500,000
|
|
BB-/NR
|
|
John Tolfree Health System Corp., 6.0%, 9/15/23
|
|
1,320,975
|
|
|
2,000,000
|
|
BB+/NR
|
|
Kent Hospital Finance Authority Revenue, 6.25%, 7/1/40
|
|
2,025,260
|
|
|
5,830,000
|
|
B-/NR
|
|
Michigan Tobacco Settlement Finance Authority, 6.0%, 6/1/48
|
|
4,375,648
|
|
|
1,410,000
|
|
BBB/NR
|
|
Star International Academy Certificates of Participation, 6.125%, 3/1/37
|
|
1,360,100
|
|
|
|
|
|
|
|
|
$
|
9,714,838
|
|
|
Minnesota — 0.9%
|
|
|
1,675,000
|
|
BB-/NR
|
|
Duluth Economic Development Authority Health Care Facilities Revenue, 7.25%, 6/15/32
|
$
|
1,691,164
|
|
|
1,000,000
|
|
NR/NR
|
|
Port Authority of the City of Bloomington Minnesota Facility Revenue Bonds, 9.0%, 12/1/35
|
|
1,064,690
|
|
|
|
|
|
|
|
|
$
|
2,755,854
|
|
|
Montana — 0.1%
|
|
|
1,600,000
|
(b)(d)
|
NR/NR
|
|
Two Rivers Authority, Inc., Correctional Facility Improvement Revenue, 7.375%, 11/1/27
|
$
|
240,048
|
|
|
Nebraska — 0.2%
|
|
|
2,000,000
|
(b)(d)
|
NR/NR
|
|
Grand Island Solid Waste Disposal Facilities Revenue, 7.0%, 6/1/23
|
$
|
566,220
|
|
|
Nevada — 0.0%*
|
|
|
2,000,000
|
(b)(d)
|
NR/NR
|
|
Nevada State Department of Business & Industry, 7.25%, 1/1/23
|
$
|
2,400
|
|
|
New Jersey — 7.9%
|
|
|
10,000,000
|
|
B/B3
|
|
New Jersey Economic Development Authority Revenue, 6.25%, 9/15/29
|
$
|
9,956,900
|
|
|
6,150,000
|
(e)
|
B/B3
|
|
New Jersey Economic Development Authority Revenue, 7.0%, 11/15/30
|
|
6,150,246
|
|
|
8,000,000
|
†
|
AA+/Aaa
|
|
Tobacco Settlement Financing Corp., 6.75%, 6/1/39
|
|
8,693,600
|
|
|
|
|
|
|
|
|
$
|
24,800,746
|
|
|
New Mexico — 1.2%
|
|
|
1,500,000
|
|
NR/NR
|
|
Otero County New Mexico Project Revenue, 6.0%, 4/1/23
|
$
|
1,337,385
|
|
|
2,960,000
|
|
NR/NR
|
|
Otero County New Mexico Project Revenue, 6.0%, 4/1/28
|
|
2,451,146
|
|
|
|
|
|
|
|
|
$
|
3,788,531
|
|
|
New York — 10.1%
|
|
|
2,000,000
|
|
NR/NR
|
|
Chautauqua County Capital Resource Corp. Revenue, 8.0%, 11/15/30
|
$
|
2,128,220
|
|
|
3,000,000
|
|
NR/NR
|
|
Dutchess County Industrial Development Agency Revenue, 7.5%, 3/1/29
|
|
3,034,230
|
|
|
2,000,000
|
|
BBB+/NR
|
|
Hempstead Local Development Corp. Revenue Bonds, 5.75%, 7/1/39
|
|
2,186,400
|
|
|
2,050,000
|
|
NR/NR
|
|
Nassau County New York Industrial Development Agency Revenue, 6.7%, 1/1/43
|
|
1,592,092
|
|
|
2,000,000
|
|
BB-/B2
|
|
New York City Industrial Development Agency, 5.25%, 12/1/32
|
|
1,616,240
|
|
|
2,000,000
|
|
BB-/B2
|
|
New York City Industrial Development Agency, 7.625%, 12/1/32
|
|
2,001,200
|
|
|
2,000,000
|
|
NR/C
|
|
New York City Industrial Development Agency, 8.0%, 8/1/12
|
|
1,843,640
|
|
|
1,000,000
|
|
NR/Ba1
|
|
New York State Dormitory Authority Revenue, 6.125%, 12/1/29
|
|
1,024,080
|
|
|
7,040,000
|
(a)
|
NR/Aaa
|
|
New York State Dormitory Authority Revenue, RIB, 13.432%, 5/29/14 (144A)
|
|
10,790,771
|
|
|
2,750,000
|
|
BB/NR
|
|
Seneca Nation Indians Capital Improvement Authority Revenue, 5.25%, 12/1/16 (144A)
|
|
2,606,697
|
|
|
3,000,000
|
|
NR/NR
|
|
Suffolk County Industrial Development Agency, 7.25%, 1/1/30
|
|
2,999,580
|
|
|
|
|
|
|
|
|
$
|
31,823,150
|
|
|
North Carolina — 2.9%
|
|
|
4,785,000
|
|
NR/NR
|
|
Charlotte North Carolina Special Facilities Revenue, 5.6%, 7/1/27
|
$
|
4,171,228
|
|
|
4,795,000
|
|
NR/NR
|
|
Charlotte North Carolina Special Facilities Revenue, 7.75%, 2/1/28
|
|
4,801,665
|
|
|
|
|
|
|
|
|
$
|
8,972,893
|
|
|
Oklahoma — 0.3%
|
|
|
1,225,000
|
(b)
|
NR/NR
|
|
Tulsa Municipal Airport Revenue, 6.25%, 6/1/20
|
$
|
921,004
|
|
|
Pennsylvania — 2.5%
|
|
|
1,550,000
|
|
NR/Baa2
|
|
Allegheny County Hospital Development Authority Revenue, 5.125%, 5/1/25
|
$
|
1,550,186
|
|
|
1,000,000
|
|
CC/NR
|
|
Columbia County Hospital Authority Health Care Revenue, 5.9%, 6/1/29
|
|
961,640
|
|
|
665,000
|
|
BBB+/Baa3
|
|
Hazleton Health Services Authority Hospital Revenue, 5.625%, 7/1/17
|
|
665,499
|
|
|
1,280,000
|
(b)
|
NR/NR
|
|
Langhorne Manor Borough Higher Education & Health Authority Revenue, 7.35%, 7/1/22
|
|
371,187
|
|
|
5,000,000
|
|
B-/Caa2
|
|
Pennsylvania Economic Development Financing Authority Solid Waste Disposal Revenue, 6.0%, 6/1/31
|
|
3,939,500
|
|
|
500,000
|
|
BBB+/NR
|
|
Pennsylvania Higher Educational Facilities Authority Revenue, 5.4%, 7/15/36
|
|
508,575
|
|
|
|
|
|
|
|
|
$
|
7,996,587
|
|
|
Rhode Island — 2.0%
|
|
|
6,000,000
|
(d)
|
NR/NR
|
|
Central Falls Detention Facilities Revenue, 7.25%, 7/15/35
|
$
|
4,793,940
|
|
|
1,500,000
|
|
NR/NR
|
|
Rhode Island Health & Educational Building Corp Revenue, 8.375%, 1/1/46
|
|
1,547,535
|
|
|
|
|
|
|
|
|
$
|
6,341,475
|
|
|
South Carolina — 1.3%
|
|
|
3,185,000
|
†
|
BBB+/Baa1
|
|
South Carolina Jobs Economic Development Authority Revenue, 6.375%, 8/1/34
|
$
|
3,462,923
|
|
|
665,000
|
†
|
BBB+/Baa1
|
|
South Carolina Jobs Economic Development Authority Revenue, 6.375%, 8/1/34
|
|
724,604
|
|
|
|
|
|
|
|
|
$
|
4,187,527
|
|
|
Tennessee — 4.7%
|
|
|
7,000,000
|
†
|
NR/A2
|
|
Johnson City Health & Educational Facilities Board Hospital Revenue, 7.5%, 7/1/33
|
$
|
7,373,450
|
|
|
2,480,000
|
|
NR/A1
|
|
Knox County Health, Educational & Housing Facilities Board Hospital Revenue, 6.375%, 4/15/22
|
|
2,536,222
|
|
|
4,600,000
|
|
BBB+/NR
|
|
Sullivan County Health, Educational & Housing Facilities Board Hospital Revenue, 5.25%, 9/1/36
|
|
4,691,632
|
|
|
|
|
|
|
|
|
$
|
14,601,304
|
|
|
Texas — 14.6%
|
|
|
1,345,000
|
|
NR/B3
|
|
Bexar County Housing Finance Corp., 8.0%, 12/1/36
|
$
|
949,395
|
|
|
2,500,000
|
|
BB+/Ba1
|
|
Central Texas Regional Mobility Authority Revenue, 6.75%, 1/1/41
|
|
2,620,825
|
|
|
4,000,000
|
|
NR/NR
|
|
Decatur Hospital Authority Revenue, 7.0%, 9/1/25
|
|
4,049,400
|
|
|
725,078
|
(b)(d)
|
NR/NR
|
|
Gulf Coast Industrial Development Authority, 7.0%, 12/1/36
|
|
6,990
|
|
|
3,750,000
|
|
B-/B3
|
|
Houston Airport System Special Facilities Revenue, 5.7%, 7/15/29
|
|
3,543,975
|
|
|
5,340,000
|
|
NR/NR
|
|
Lubbock Health Facilities Development Corp., 6.625%, 7/1/36
|
|
5,240,249
|
|
|
10,000,000
|
|
BBB+/A3
|
|
North Texas Tollway Authority Revenue, 5.75%, 1/1/33
|
|
10,908,000
|
|
|
2,810,000
|
(a)
|
NR/Aaa
|
|
Northside Independent School District, RIB, 11.669%, 6/15/12 (144A)
|
|
3,159,705
|
|
|
1,500,000
|
|
NR/NR
|
|
Red River Health Facilities Development Corp., Revenue, 8.0%, 11/15/41
|
|
1,536,480
|
|
|
2,000,000
|
|
NR/NR
|
|
Tarrant County Cultural Education Facilities Finance Corp., 8.0%, 11/15/34
|
|
2,061,880
|
|
|
1,000,000
|
|
NR/NR
|
|
Tarrant County Cultural Education Facilities Finance Corp., 8.125%, 11/15/39
|
|
1,023,370
|
|
|
1,500,000
|
|
NR/NR
|
|
Tarrant County Cultural Education Facilities Finance Corp., 8.25%, 11/15/44
|
|
1,539,000
|
|
|
7,040,000
|
(a)
|
NR/Aaa
|
|
Texas State, RIB, 12.64%, 4/1/13 (144A)
|
|
9,292,518
|
|
|
|
|
|
|
|
|
$
|
45,931,787
|
|
|
Vermont — 0.5%
|
|
|
1,500,000
|
|
A-/Baa1
|
|
Vermont Educational & Health Buildings Financing Agency Revenue, 6.0%, 10/1/28
|
$
|
1,581,840
|
|
|
Virginia — 0.3%
|
|
|
1,000,000
|
|
BBB/Ba1
|
|
Peninsula Ports Authority, 6.0%, 4/1/33
|
$
|
1,027,090
|
|
|
Washington — 9.9%
|
|
|
4,710,000
|
|
A+/A2
|
|
Spokane Public Facilities District Hotel/Motel Tax & Sales, 5.75%, 12/1/27
|
$
|
5,040,454
|
|
|
7,025,000
|
|
BBB/Baa1
|
|
Tobacco Settlement Authority Revenue, 6.625%, 6/1/32
|
|
7,307,194
|
|
|
14,315,000
|
|
AA+/Aa1
|
|
Washington State General Obligation, 0.0%, 6/1/22
|
|
10,931,220
|
|
|
3,795,000
|
|
A/A2
|
|
Washington State Health Care Facilities Authority Revenue, 6.0%, 1/1/33
|
|
4,175,525
|
|
|
5,000,000
|
|
NR/NR
|
|
Washington State Housing Finance Committee Nonprofit Revenue, 5.625%, 1/1/27
|
|
3,635,400
|
|
|
|
|
|
|
|
|
$
|
31,089,793
|
|
|
West Virginia — 0.3%
|
|
|
745,000
|
|
NR/NR
|
|
West Virginia Hospital Finance Authority Hospital Revenue Bonds, 9.125%, 10/1/41
|
$
|
826,808
|
|
|
Wisconsin — 0.8%
|
|
|
2,500,000
|
|
NR/NR
|
|
Wisconsin Public Finance Authority Continuing Care Retirement Community Revenue, 8.25%, 6/1/46
|
$
|
2,622,550
|
|
|
|
|
|
|
TOTAL TAX-EXEMPT OBLIGATIONS
(Cost $374,019,744)
|
$
|
398,234,249
|
|
|
MUNICIPAL COLLATERALIZED DEBT OBLIGATION — 2.2% OF NET ASSETS
|
|
|
10,000,000
|
(d)(e)
|
NR/NR
|
|
Non-Profit Preferred Funding Trust I, 6.75%, 9/15/37 (144A)
|
$
|
6,938,500
|
|
|
|
|
|
|
TOTAL MUNICIPAL COLLATERALIZED DEBT OBLIGATION
(Cost $10,000,000)
|
$
|
6,938,500
|
|
|
|
|
|
|
|
|
|
|
COMMON STOCK — 0.8%
|
|
|
Transportation — 0.8%
|
|
|
251,078
|
(f)
|
|
|
Delta Air Lines, Inc.
|
$
|
2,648,873
|
|
|
|
|
|
|
|
TOTAL COMMON STOCKS
(Cost $6,612,756)
|
$
|
2,648,873
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES — 130.0%
(Cost $390,632,500)(g)(h)
|
$
|
407,821,622
|
|
|
|
|
|
|
OTHER ASSETS AND LIABILITIES — 2.2%
|
$
|
6,757,926
|
|
|
|
|
|
|
PREFERRED SHARES AT REDEMPTION VALUE, INCLUDING DIVIDENDS PAYABLE — (32.2)%
|
$
|
(101,001,172)
|
|
|
|
|
|
|
NET ASSETS APPLICABLE TO COMMON SHAREOWNERS — 100.0%
|
$
|
313,578,376
|
|
|
|
(144A)
|
Security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold normally to qualified institutional buyers in a transaction exempt from registration. At January 31, 2012, the value of these securities amounted to $67,193,401 or 21.4% of total net assets applicable to common shareowners.
|
|
NR
|
Security not rated by S&P or Moody's
|
|
RIB
|
Residual Interest Bonds
|
|
WR
|
Withdrawn rating
|
|
†
|
Prerefunded bonds have been collateralized by U.S. Treasury or U.S. Government Agency securities which are held in escrow to pay interest and principal on the tax exempt issue and to retire the bonds in full at the earliest refunding date.
|
|
*
|
Amount rounds to less than 0.1%.
|
|
(a)
|
The interest rate is subject to change periodically and inversely based upon prevailing market rates. The interest rate shown is the coupon rate at January 31, 2012.
|
|
(b)
|
Security is in default and is non-income producing.
|
|
(c)
|
Debt obligation initially issued at one coupon which converts to a higher coupon at a specific date. The rate shown is the rate at January 31, 2012.
|
|
(d)
|
Indicates a security that has been deemed illiquid. The aggregate cost of illiquid securities is $22,082,721. The aggregate fair value of $12,548,098 represents 4.0% of the total net assets applicable to common shareowners.
|
|
(e)
|
The interest rate is subject to change periodically. The interest rate shown is the coupon rate at January 31, 2012.
|
|
(f)
|
Non-income producing.
|
|